News

Home loan demand climbed in November: Report

NEW data from the Australian Bureau of Statistics has found home loan demand climbed steadily higher over the month of November.

According to the November Housing Finance Data, 56,798 home loans were approved over the course of the month - up 1.8% from 55,796 in October.

And it wasn't just the total number of home loans approved that increased, with the data showing the total value of all home loans written grew 1.8% over the course of the month.

"In November, more than $33 billion worth of home loans were written," Mortgage Choice chief executive officer John Flavell said.

"This spike in both the number and value of all home loans written can largely be attributed to the growth in lending for owner occupied housing."

As per the data, the total value of all owner occupied home loans written was $21.753 billion - up 2.4% on the month prior.

Meanwhile, the total value of investment loans written climbed 0.7% over the course of November.

Mr Flavell said the slight uptick in the value of investment loans written was surprising given that Australia's lenders have made some sweeping changes to their investment policy and pricing in recent months.

"Last month, we saw a significant drop in the total value of investment loans written - a drop we attributed to the recent investment lending changes," he said.

"This month, we have seen investment lending increase slightly, which is very pleasing as it suggests the housing market remains robust."

Mr Flavell said he was also pleased to see a spike in the total value of owner occupied loans written, as research conducted by RP Data had shown that property values across the combined capital city fell throughout the month of November.

"In November, property values across the combined capital cities fell 1.5%. Sydney and Melbourne led the charge, with the capital cities recording a 1.4% and 3.5% fall in values respectively," he said.

"Despite this, the total value of all home loans written remained strong, which is a really good sign for the future.

Topics:  housing, loans




Bundaberg man says Census is senseless

THE RESIDENT: Peter Haakmeester fears that many people will throw away their census paper which arrived in the mailbox as it looks like just another piece of junk mail.

Man says Census is senseless

How could they do this to someone who tried to help them?

JUNKIE SCUM DOG: Ross Newmann is disappointed with the graffiti sprayed on his Bargara Rd rental property.

Man devastated following graffiti attack

Latest deals and offers

Matt Damon is taking a break from acting

Matt Damon is taking a break to spend time with his family

Police foiled terrifying 1m plot to kidnap Katie Price

Police foiled a £1 million plot to kidnap Katie Price and her family

Kristen Bell's baby confession

Kristen Bell once pretended to be asleep when her baby woke up early

Babylon 5's Jerry Doyle has died

Jerry Doyle has died from unknown causes at the age of 60

Mum driver heroically ignores hilarious lip-syncing son

Hilarious moves while Mum concentrates on the road.

IF IT takes a village to raise a child, why aren't they driving?

Twitter adds dancing David Brent emoji

Ricky Gervais's character has its own emoji now

Is Elliott Heads the next Byron Bay?

Could Elliott Heads be the next Byron or Noosa?

You can own this Queensland town for just $1

Yelarbon

Unprecedented auction of town's business centre with no reserve

Work starts on $15M Caloundra apartment building

Turning the first sod at the Aqua View Apartments site in Kings Beach are (from left) husband-and-wife developers Alex Yuan and Stella Sun with construction company Tomkins director Mike Tomkins and Councillor Tim Dwyer.

Developers excited about addition to Kings Beach skyline

72-year-old Coast developer set to start new project

GREEN LIGHT: The Cosmopolitan has been approved for development at Cotton Tree.

Meet the Canberran set to deliver another chapter for Coast suburb

Plans revealed for 1500-lot 'master-planned community'

Precinct will be bounded by Boundary St and Shoesmith Rd

Ecco Ripley sales run sparks prime release

MOVING IN: Sekisui House has announced the release of more residential blocks at Ecco Ripley.

Sekisui House is preparing to unveil more land at Ecco Ripley